WeedMD Congratulates Shoppers Drug Mart on Securing its Health Canada Cannabis Production Licence
September 25, 2018 (Source) — WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to congratulate the team at Shoppers Drug Mart on securing a cannabis production licence from Health Canada. This licence allows Canada’s largest pharmacy chain to receive, label and test medical cannabis supplied by WeedMD and represents an important milestone for both companies.
“As one of the most trusted names in pharmacy and patient support services, we congratulate Shoppers Drug Mart on clearing the first step to expanding its offerings and patient accessibility to premium medical cannabis,” said Keith Merker, CEO of WeedMD. “We’re proud to be one of the few trusted and validated supply partners selected by Shoppers Drug Mart to provide medical cannabis and deliver WeedMD’s proprietary education platform to its pharmacists and medical experts.”
Shoppers Drug Mart’s production licence follows WeedMD’s announcement on June 20, 2018 whereby the Company confirmed it was one of few licensed producers to have entered into a supply agreement with the pharmacy. Under the terms of the agreement, the Company will supply WeedMD-branded medical cannabis products to Shoppers Drug Mart and it is expected that the products will be sold online as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis plant, dried flower and oil under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a state-of-the-art greenhouse facility located in Strathroy, Ontario. The greenhouse currently has 44,000 square feet of licensed space in production and is expected to have a total footprint of more than 500,000 square feet online by year-end 2018. WeedMD has a multi-channeled distribution strategy that includes supply agreements with Shoppers Drug Mart and provincial distribution agencies, as well as through strategic relationships across the seniors’ market in Canada.
Cautionary Statement on Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s Annual Information Form dated December 13, 2017 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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